Meyer Burger Technology (0QQ7.L) Q3 2023 Earnings Report

Meyer Burger Technologies AG reported a sharp Q3 2023 revenue decline and material operating losses, reflecting ongoing production and cost structure challenges during the transition to its advanced Heterojunction with Smart Wire (HJT-SW) technology and related module offerings. Revenue for the quarter ended 2023-09-30 totaled CHF 19.09 million, down 57.8% year-over-year and 80.3% quarter-over-quarter, with a gross loss of CHF 23.62 million and an EBITDA of CHF -60.39 million. The company posted a net loss of CHF 113.59 million, translating to an EPS of -CHF 23.99 for the quarter. The results underscore a painful but defining period as Meyer Burger scales the commercialization of its proprietary cells/modules and navigates cost compression and capacity utilization in a challenging solar market.